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Tax Tips for the Self-Employed: A Freelancer’s Guide to Paying Taxes

Tax Tips for the Self-Employed: A Freelancer’s Guide to Paying Taxes If you are an employee, you get a paycheck every pay period and most likely pay little attention to your taxes until the end of the year. Your employer does a lot of the work for you and you get a W2 at the […]

Top 10 IRS Audit Red Flags

No one wants to pay more income taxes than they are required to, but be careful if you do your own taxes. Attempting to cut your tax liability by getting into IRS grey areas can cause you problems later on. You don’t have to do anything unethical to get your return pulled for an audit, […]

If You Receive an IRS Notice or Letter, Here Is What to Do

Each year the IRS sends millions of letters and notices to taxpayers. If you receive one, do not panic. Here’s what to do: Follow the instructions in the letter. There are many reasons the IRS sends notices to taxpayers. Here are the common reasons: You have a balance due. You are due a larger or […]

Checklist of Common Errors When Preparing Your Tax Return

The IRS created the following checklist based on common filing errors. Did you choose the correct filing status? Did you check the appropriate exemption boxes for your personal, spousal and dependency exemptions? Did you enter the total number of exemptions? Did you enter the names and Social Security numbers for everyone listed on your return […]

Income Tax Corner – Can You Really Do It Yourself?

One of the questions we hear most often from taxpayers that are hourly or salaried employees with “simple” tax returns is “Why can’t I just do this myself?” The truth – and our usual answer is – “Of course you can…” But there is always a catch. Tax software can be great but it also […]

Starting 2017 Off Right From A Tax/Accounting Perspective

It’s a great day here at Tax Solutions Practice, LLC and as the weeks pass and we start to look towards  April 15th  and the collective sigh of relief, I wanted to reiterate to all you guys that you can never document too much.  After decades of dealing with the IRS as a tax professional, […]